Can I retire at age 60 with 642,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$53,016$52,544$52,083$51,633$51,194$49,241
2 years$26,245$25,757$25,283$24,824$24,378$22,433
3 years$17,323$16,832$16,360$15,905$15,466$13,591
4 years$12,863$12,373$11,906$11,458$11,031$9,239
5 years$10,187$9,701$9,239$8,801$8,385$6,682
6 years$8,404$7,922$7,467$7,038$6,635$5,022
7 years$7,131$6,653$6,205$5,787$5,396$3,872
8 years$6,177$5,702$5,262$4,854$4,477$3,040
9 years$5,435$4,965$4,532$4,135$3,770$2,419
10 years$4,842$4,376$3,951$3,564$3,212$1,944
11 years$4,357$3,896$3,479$3,102$2,763$1,575
12 years$3,953$3,497$3,087$2,721$2,394$1,284
13 years$3,611$3,160$2,758$2,402$2,088$1,051
14 years$3,319$2,873$2,478$2,132$1,830$864
15 years$3,066$2,624$2,238$1,902$1,611$713
16 years$2,844$2,408$2,029$1,703$1,424$589
17 years$2,649$2,217$1,846$1,530$1,263$488
18 years$2,476$2,049$1,685$1,379$1,123$405
19 years$2,321$1,899$1,543$1,246$1,001$337
20 years$2,182$1,765$1,416$1,128$894$280
21 years$2,056$1,644$1,302$1,024$800$233
22 years$1,942$1,534$1,200$931$717$195
23 years$1,838$1,435$1,108$848$644$162
24 years$1,743$1,344$1,025$773$578$135
25 years$1,655$1,262$949$706$521$113
26 years$1,575$1,186$880$646$469$94
27 years$1,500$1,116$818$591$423$79
28 years$1,431$1,052$760$542$381$66
29 years$1,367$992$707$497$344$55
30 years$1,307$937$659$456$311$46
31 years$1,251$886$614$419$281$39
32 years$1,199$838$573$385$255$32
33 years$1,150$794$535$354$230$27
34 years$1,104$752$500$326$209$23
35 years$1,060$713$467$300$189$19
36 years$1,020$677$437$276$171$16
37 years$981$643$409$254$155$13
38 years$945$611$383$234$141$11
39 years$910$581$359$216$128$9
40 years$878$553$337$199$116$8
41 years$847$526$316$184$105$6
42 years$817$501$296$170$95$5
43 years$789$478$278$157$86$5
44 years$763$455$261$145$78$4
45 years$737$434$245$134$71$3
46 years$713$414$230$123$65$3
47 years$690$395$216$114$59$2
48 years$668$377$203$105$53$2
49 years$647$360$191$97$48$2
50 years$627$344$179$90$44$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $642,000, adding $4,741 every year, while hoping to spend $47,732 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 40/31/29 Blend
59$642,000$642,000$642,000$642,000
60$712,374$678,348$668,397$734,614
61$734,250$660,801$640,002$733,698
62$756,757$640,794$609,056$727,944
63$779,910$618,156$575,423$720,816
64$803,722$592,708$538,961$712,220
65$828,208$564,256$499,522$702,056
66$853,380$532,599$456,951$690,217
67$879,251$497,523$411,085$676,591
68$905,834$458,801$361,756$661,059
69$933,141$416,194$308,786$643,495
70$961,183$369,449$251,992$623,768
71$989,970$318,299$191,181$601,736
72$1,019,512$262,461$126,150$577,253
73$1,049,817$201,636$56,692$550,162
74$1,080,893$135,510$0$520,298
75$1,112,744$63,750$0$492,882
76$1,145,374$0$0$481,405
77$1,178,784$0$0$472,961
78$1,212,976$0$0$486,563
79$1,247,944$0$0$500,462
80$1,283,683$0$0$514,652
81$1,320,184$0$0$529,129
82$1,357,433$0$0$543,885
83$1,395,413$0$0$558,911
84$1,434,102$0$0$574,195
85$1,473,472$0$0$589,724
86$1,513,491$0$0$605,481
87$1,554,118$0$0$621,447
88$1,595,306$0$0$637,599
89$1,636,999$0$0$653,910
90$1,679,132$0$0$670,351
91$1,721,630$0$0$686,885
92$1,764,407$0$0$703,473
93$1,807,363$0$0$720,068
94$1,850,385$0$0$736,618
95$1,893,343$0$0$753,065
96$1,936,090$0$0$769,340
97$1,978,461$0$0$785,368
98$2,020,268$0$0$801,064
99$2,061,299$0$0$816,333
100$2,101,317$0$0$831,065